Silver markets traded during Monday’s session as we continue to see a lot of noise in the markets. One thing that, of course, doesn’t help the situation is the fact that the Federal Reserve is now on the line, which means it could very well raise interest rates fairly quickly. If this is to be the case, then it only makes perfect sense that we will end up seeing precious metals take a hit. However, you should keep in mind that silver is not just a precious metal, it is also an industrial metal.

SILVER Video 01.11.22

The $ 22 level below starts massive support which extends to the $ 21.50 level, so at this point I think there is a significant number of buyers below. For this reason, I think in terms of value because I might be a buyer on the dips. Obviously we would need to see some type of catalyst to push the silver higher, but a simple support could be one of the main reasons to think about it at this point.

All other things being equal, you need to be careful with the US dollar, which of course will likely be the biggest problem money faces, as there is a pretty big negative correlation between the two assets. For this reason, you should always keep your chart of the US dollar index out of the way to get a feel for the possibility of a certain type of headwind. Nonetheless, this is a market that I think is trying to find buyers, so it will be interesting to see whether or not we can keep up with the pressure the market has been under every time we dive.

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